January 22, 2014

Cleary Gottlieb represented The Korea Development Bank in its SEC-registered offering of $750 million floating rate notes due 2017 and $750 million 3.75% notes due 2024. The transaction was a takedown from KDB’s shelf registration statement under Schedule B. The offering priced on January 13, 2014 and closed on January 22, 2014.

KDB was established in 1954 as a government-owned financial institution pursuant to the Korea Development Bank Act, as amended. Since its establishment, KDB has been the leading bank in Korea with respect to the provision of long-term financing for projects designed to assist Korea’s economic growth and development.